SuperGroup to raise £125m in London float

Supergroup, owner of the popular youth brand Superdry, plans to float in London.

8:38AM GMT 15 Feb 2010

The retailer owns the popular Superdry streetwear brand which has cult status among image-conscious teens.

Superdry clothes are sold in more than 30 countries, with internet sales in 58 countries. It has benefited from publicity from celebrities such as David Beckham, Zac Effron, Helena Christensen, Shakira and Leonardo DiCaprio.

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Julian Dunkerton, the 44-year-old chief executive and co-founder of the Cult brand, owns 53pc of the company. James Holder, 38, the brand and design director who started the Bench clothing brand, has a 19.8pc stake. Mr Dunkerton and Mr Holder established the Superdry brand six years ago.

The £125m float represent around 30pc of the company's total shares. This values the company around £430m and Mr Dunkerton's stake at around 230m.

Theo Karpathios, 46, the chief executive of wholesale and international, also owns 19.8pc.

The company plans to use the proceeds from the flotation to expand and boost working capital.

In the 12 months January 3, total sales rose 95pc to £119m as a result of rapid expansion over the past year. The board believes is set to continue as the Superdry brand gathers momentum both in the UK and overseas.

The group has no debt.

Mr Dunkerton said: "SuperGroup is a highly profitable, fast growing business with significant potential for expansion in the UK and internationally. Our brands, particularly Superdry, have established a loyal customer following across the world founded on a reputation for providing innovative, premium quality clothing at affordable prices."

SuperGroup's flotation comes at a time when a number of companies, such as New Look, Travelport and Merlin Entertainments, have abandoned their stock market plans.